President Trump’s auto tariffs may have sparked fears of price hikes among consumers, but some car-buying businesses could actually benefit, according to investor Bill Ackman. The Pershing Square Capital Management founder made a bullish case for Hertz yesterday (April 17), after revealing a nearly 20 percent stake in the car rental company.

But now the stock’s upward move has greatly accelerated after billionaire Bill Ackman and his hedge fund Pershing Square disclosed the purchase of about $46.5 million in Hertz’s stock ...